Agenda Packets - 1984/04/23 - Laserfiche WebLink

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MEMO TO: Mayor 6 City Council FROM: Clerk-Administrat DATE: April 25, 1984 SUBJECT: 1984 Street Maintenance Program Funding Options As you may recall, the Street Maintenance Study prepared by John Johnson proposed a 5 year program at an estimated cost of $131,500 per year. The purpose of this memorandum is to outline the options available to the City for funding this program which has been approved in concept by the City Council. Basically, staff has identified 4 sources of funds which may be combined in any amount of variations. The sources of funds and amounts estimated to be available are as follows, 1. General Fund - The 1984 General Fund Budget contains $60,000 for street maintenance (sealcoat and overlay). It is impossible to state positively that this level of funding will continue to be available in future years, however, due to uncertainties as to the level of funding for Federal Revenue Sharing and Local Government Aids. Based upon current information, it would appear to be safe to say that the current level of funding could be sustained through 1985. 2. MSA Maintenance Funding - As has been indicated to you previously, the City's level of MSA Maintenance funding has increased from $10,500 per year to $42,000 per year due to our submission of an application for the allocation of 25% of our allotment to maintenance. This new level of funding does however, require the maintenance of records to substantiate expenditures on MSA streets equal to the level of funding. It is not anticipated that the level of funding for MSA Maintenance will decrease in future years, in fact it is hoped it would be increased as a result of legislative action. Therefore, after reducing the current level of funding by $11,000 to avoid a negative impact upon the City's General Fund's budgeted revenues, a total of,$30-32,000 could be allocated to the City's annaul Street Maintenance program. 3. MSA Money in Silver Lake Woods Improvement Account - As you may recall, the City purchased the right-of-way and constructed Mounds View Drive with bond monies sold for the Silver Lake Woods Improvement Project with the developer being assessed for the total cost of the project.